Riflescopes Market by Sight Type (Reflex, Telescopic), Technology (Thermal Imaging, Electro-Optic, Laser), Application (Armed Forces, Shooting Sports, Hunting), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2028

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The global riflescopes market is expected to grow from USD 7.35 billion in 2020 to USD 10.61 billion by 2028, at a CAGR of 4.7% during the forecast period 2021-2028. 

Riflescopes are placed on the top of the rifle for target acquisition. Riflescopes are found on most modern guns, although many rifles, usually older designs, don’t have scopes. So, the scopes have to fit on them for precise and accurate aiming. They are typically used in the military and shooting & hunting sports.In the U.S., the riflescopes market is anticipated to grow at a high CAGR of over 5% during the projected period. The United States is the global leader when it comes to defense research & development of new weapons, weapon systems, fighter jets, military technologies, etc. The increasing defense budget, along with the introduction of modern assault rifles, are expected to offer potential growth opportunities.

This study delivers a comprehensive analysis of sight types, technologies, applications, and regions. The research includes growth drivers as well as challenges prevalent in the global riflescopes market, along with the impact they will have on the overall demand during the forecasted period. Additionally, the study also includes various opportunities & threats that are present in the riflescopes market. The sight type segment consists of reflex and telescopic. The reflex segment is anticipated to grow at the highest rate of 6.0% over the forecast years. A reflex sight scope has a red dot inside a transparent mirror for target acquisition.Based on technology, the global market has been divided into thermal imaging, electro-optic, and laser. The laser segment has been forecasted to grow at the highest CAGR of 5.2% due to its high intensity, lightweight and long-range characteristics. On the basis of application, the riflescopes market has been segmented into armed forces, shooting sports, and hunting. The shooting sports segment is expected to grow at a rate of 5.4% due to the increase in shooting sports events and international events like the Commonwealth Games and the Olympics.

The market has been divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. With the increasing prevalence of shooting games in the region, the Asia-Pacific region stands as a promising market for riflescopes. It is expected to grow at the highest CAGR during the forecast period.

Some of the notable players in the riflescopes market are SIG SAUER, Bushnell, Hawke Optics, Burris Company, Inc., Nightforce Optics, Hensoldt, and Leupold& Stevens, Inc., among others. The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global riflescopes industry. 

This study predictsrevenue growth at global, national, and country levels from 2021 to 2028. Fior Markets has segmented the market based on the below-mentioned segments:

Global Riflescopes Market Analysis and Forecast, By Sight Type

  • Reflex
  • Telescopic

Global Riflescopes Market Analysis and Forecast, By Technology

  • Thermal Imaging
  • Electro-Optic
  • Laser

Global Riflescopes Market Analysis and Forecast, By Application

  • Armed Forces
  • Shooting Sports
  • Hunting

Global Riflescopes Market Analysis and Forecast, By Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Sweden
    • Netherland
    • U.K.
    • Italy
    • Spain
    • Turkey
    • Switzerland
    • Belgium
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • South Korea
    • Australia
    • Singapore
    • Malaysia
    • Thailand
    • Indonesia
    • Philippines
    • Rest Of APAC
  • South America
    • Brazil
    • Argentina
    • Peru
    • Colombia
    • Rest of South America
  • Middle East and Africa
    •  UAE
    •  Saudi Arabia
    •  Egypt
    •  Nigeria
    •  South Africa
    • Rest Of MEA

Report Description:

  • The base year for the study has been considered 2020, historic year 2018 and 2019 and, the forecast period considered is from 2021 to 2028.
  • The study delivers a comprehensive analysis of the global riflescopes market by sight types, technologies, applications, and regions. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2021 to 2028.
  • Porter’s Five Forces model is used in order to recognize the competitive scenario in the global riflescopes market. This report incorporates the industry analysis which is focused on providing an extensive view of the riflescopes market.
  • The study also includes attractiveness analysis of sight types, technologies, applications, and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
  • The report provides company profile of the key players operating in the riflescopes market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
  • The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Sight Type
          4.3.2. Market Attractiveness Analysis By Technology
          4.3.3. Market Attractiveness Analysis ByApplication
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends
5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Rising geopolitical tensions& border conflicts
    5.3. Restraints
          5.3.1. Rising rate of the ban on hunting animals
    5.4. Opportunities
          5.4.1. Rising adoption of hi-tech, advanced riflescopes
6. Global RiflescopesMarket Analysis and Forecast, By Sight Type
    6.1. Segment Overview
    6.2. Reflex
    6.3. Telescopic
7. Global Riflescopes Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. Thermal Imaging
    7.3. Electro-Optic
    7.4. Laser
8. Global Riflescopes Market Analysis and Forecast, ByApplication
    8.1. Segment Overview
    8.2. Armed Forces
    8.3. Shooting Sports
    8.4. Hunting
9. Global Riflescopes Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa
10. Global Riflescopes Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Riflescopes Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Products, Launches and Developments
          10.3.2. Partnerships Collaborations and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions
11. Company Profiles
    11.1. SIG SAUER
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Bushnell
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Hawke Optics
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Burris Company, Inc
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Nightforce Optics
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Hensoldt
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Leupold& Stevens, Inc.
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis

List of Table

1. Global Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

2. Global Reflex, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

3. Global Telescopic, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

4. Global Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

5. Global Thermal Imaging, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

6. Global Electro-Optic, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

7. Global Laser, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

8. Global Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

9. Global Armed Forces, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

10. Global Shooting Sports, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

11. GlobalHunting, Riflescopes Market, By Region, 2020-2028(USD Billion) (K Units)

12. North America Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

13. North America Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

14. North America Riflescopes Market, By Application2020-2028(USD Billion) (K Units)

15. U.S. Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

16. U.S. Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

17. U.S. Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

18. Canada Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

19. Canada Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

20. Canada Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

21. Mexico Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

22. Mexico Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

23. Mexico Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

24. Europe Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

25. Europe Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

26. Europe Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

27. Germany Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

28. Germany Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

29. Germany Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

30. France Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

31. France Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

32. France Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

33. U.K. Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

34. U.K. Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

35. U.K. Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

36. Italy Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

37. Italy Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

38. Italy Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

39. Spain Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

40. Spain Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

41. Spain Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

42. Asia Pacific Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

43. Asia Pacific Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

44. Asia Pacific Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

45. Japan Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

46. JapanRiflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

47. JapanRiflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

48. China Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

49. China Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

50. China Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

51. India Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

52. India Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

53. India Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

54. South America Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

55. South America Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

56. South America Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

57. Brazil Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

58. Brazil Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

59. Brazil Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

60. Middle East and Africa Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

61. Middle East and Africa Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

62. Middle East and Africa Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

63. UAE Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

64. UAE Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

65. UAE Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

66. South Africa Riflescopes Market, By Sight Type, 2020-2028(USD Billion) (K Units)

67. South Africa Riflescopes Market, By Technology, 2020-2028(USD Billion) (K Units)

68. South Africa Riflescopes Market, By Application, 2020-2028(USD Billion) (K Units)

List of Figures 

1. Global Riflescopes Market Segmentation

2. Global Riflescopes Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Riflescopes Market Attractiveness Analysis By Sight Type

9. Global Riflescopes Market Attractiveness Analysis By Technology

10. Global Riflescopes Market Attractiveness Analysis By Application

11. Global Riflescopes Market Attractiveness Analysis By Region

12. Global Riflescopes Market: Dynamics

13. Global Riflescopes Market Share by Sight Type (2020 &2028)

14. Global Riflescopes Market Share by Technology (2020 &2028)

15. Global Riflescopes Market Share by Application (2020 &2028)

16. Global Riflescopes Market Share by Regions (2020 &2028)

17. Global Riflescopes Market Share by Company (2020)

Research Methodology

Market research is a method of gathering, assessing and deducing data & information about a particular market. Market research is very crucial in these days. The techniques analyze about how a product/service can be offered to the market to its end-customers, observe the impact of that product/service based on the past customer experiences, and cater their needs and demands. Owing to the successful business ventures, accurate, relevant and thorough information is the base for all the organizations because market research report/study offers specific market related data & information about the industry growth prospects, perspective of the existing customers, and the overall market scenario prevailed in past, ongoing present and developing future. It allows the stakeholders and investors to determine the probability of a business before committing substantial resources to the venture. Market research helps in solving the marketing issues challenges that a business will most likely face.

Market research is valuable because of the following reasons:

  • Market research helps businesses strengthen a company’s position
  • Market research helps in minimizing the investment risks associated with the businesses in any industry vertical
  • Market research helps in identifying the potential threats and opportunities associated with the business industry
  • Market research aids in spotting the emerging trends and facilitates strategic planning in order to stay ahead in the competition

Our research report features both the aspects; qualitative and quantitative. Qualitative part provides insights about the market driving forces, potential opportunities, customer’s demands and requirement which in turn help the companies to come up with new strategies in order to survive in the long run competition. The quantitative segment offers the most credible information related to the industry. Based on the data gathering, we use to derive the market size and estimate their future growth prospects on the basis of global, region and country.

Our market research process involves with the four specific stages.

  • Data Collection
  • Data Synthesis
  • Market Deduction & Formulation
  • Data Screening & Validation

Data Collection: This stage of the market research process involves with the gathering and collecting of the market/industry related data from the sources. There are basically two types of research methods:

  • Primary Research: By conducting primary research, it involves with the two types of data gathering; exploratory and specific. Exploratory data is open-ended and helps us to define a particular problem involving surveys, and pilot study to the specific consumer group, knowing their needs and wants catering to the industry related product/service offering. Explanatory data gathering follows with the bit of unstructured way. Our analyst group leads the study by focusing on the key crowd, in this manner picking up bits of knowledge from them. In light of the points of view of the clients, this data is used to plan advertise techniques. In addition, showcase overviews causes us to comprehend the current scenario of the business. Specific data gathering on the hand, involves with the more structured and formal way. The primary research usually includes in telephonic conversations, E-mail collaborations and up close and personal meetings/interviews with the raw material suppliers, industrial wholesalers, and independent consultants/specialists. The interviews that we conduct offers important information on showcase size and industry development patterns. Our company likewise conducts interviews with the different business specialists so as to increase generally bits of knowledge of the business/showcase.
  • Secondary Research: The secondary research incorporates with the data gathering from the non-profit associations and organizations, for example, World bank, WHO, investor relations and their presentations, statistical databases, yearly(annual reports) reports, national government records, factual databases, websites, articles, white papers, press releases, blogs and others. From the annual report, we deduce an organization's income/revenue generation to comprehend the key product segment related to the market. We examine the organization sites and implement product mapping strategy which is significant for determining the segment revenue. In the product mapping technique, we choose and categorize the products offered by the companies catering to the industry specific market, derive the segment revenue for each of the organizations to get the market estimation. We also gather data & Information based on the supply and demand side of the value chain involved with the domain specific market. The supply side denotes the distributors, wholesalers, suppliers and the demand side denotes the end-consumers/customers of the value chain. The supply side of the market is analyzed by examining the product growth across industry in each of the region followed by its pricing analysis. The demand side is analyzed by the evaluating the penetration level and adoption rates of the product by referring to the historical/past data, examine the present usage and forecasting the future trends. 
  • Purchased Database: Our purchased data provides insights about the key market players/companies along with their financial analysis. Additionally, our data base also includes market related information. 
    • We also have the agreements with various reputed data providers, consultants and third party vendors who provide information which are not limited to:
      • Export & Import Data
      • Business Information related to trade and its statistics
      • Penetration level of a particular product/service based on geography mainly focusing on the unmet prerequisites of the customers.
  • In-house Library: Apart from these third-party sources, we have our in-house library of quantitative and qualitative data & information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, internal audit reports, historic databases, archives and journal publications. Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those particular cases, we utilize our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopts a robust research technique in order to deduce the market size and its estimates:
  • Examining demographic along with psychographic segmentation for market evaluation
  • Analyzing the macro and micro-economic indicators for each demography
  • Evaluating the current industry trends popular in the market.

Data Synthesis: This stage includes the evaluation and assessment of all the data acquired from the primary and secondary research. It likewise includes in evaluating the information for any disparity watched while information gathering identified with the market. The data & information is gathered with consideration to the heterogeneity of sources. Scientific and statistical methods are implemented for synthesizing dissimilar information sets and provide the relevant data which is fundamental for formulating strategies. Our organization has broad involvement with information amalgamation where the information goes through different stages:

  • Information Screening: Information screening is the way toward examining information/data gathered from the sources for errors/mistakes and amending it before data integration process. The screening includes in looking at raw information, identifying and distinguishing mistakes and managing missing information. The reason for the information screening is to ensure information is effectively entered or not. Our organization utilizes objective and precise information screening grades through repetitive quality checks.
  • Data Integration: The data integration method involves with the incorporation of numerous information streams. The data streams is important so as to deliver investigate examines that give overall market scenario to the investors. These information streams originate from different research contemplates and our in house database. After the screening of the information, our analysts conduct efficient integration of the data streams, optimizing connections between integrated surveys and syndicated data sources. There are two research approaches that we follow so as to coordinate our information; top down methodology and bottom up methodology. 
    • Top-down analysis generally refers to using broad factors as a basis for decision making. The top-down approach helps in identifying the overall market scenario along with the external and internal factors effecting the market growth.
    • The bottom-up approach takes a completely different approach. Generally, the bottom-up approach focuses its analysis on micro attributes and specific characteristics of the domain specific market.

Market Formulation & Deduction: The last stage includes assigning the data & information in a suitable way in order to derive market size. Analyst reviews and domain based opinions based on holistic approach of market estimation combined with industry investigation additionally features a crucial role in this stage.

This stage includes with the finalization of the market size and numbers that we have gathered from primary and secondary research. With the data & information addition, we ensure that there is no gap in the market information. Market trend analysis is finished by our analysts by utilizing data extrapolation procedures, which give the most ideal figures to the market.

Data Validation: Validation is the most crucial step in the process. Validation & re-validation through scientifically designed technique and process that helps us finalize data-points to be used for final calculations. This stage also involves with the data triangulation process. Data triangulation generally implicates the cross validation and matching the data which has been collected from primary and secondary research methods.

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